TORONTO, Jan. 18, 2013 /CNW/ - TMX Group Limited today announced the
appointment of Jean Desgagne as President and Chief Executive Officer
of The Canadian Depository for Securities Limited (CDS), Canada's
national securities depository, clearing and settlement hub for equity,
fixed income and money markets. Through its subsidiary, CDS Clearing
and Depository Services Inc., CDS holds over $4 trillion on deposit and
annually handles over 374 million domestic transactions and over 41
million cross-border transactions with the U.S. Mr. Desgagne, whose
appointment will take effect on February 19, 2013, will join TMX
Group's executive management committee and will be an Officer of TMX
Group Limited. He replaces Ian Gilhooley, who retired on December 31,
2012.
Tom Kloet, Chief Executive Officer of TMX Group said:
"Jean brings deep expertise in risk management along with broad capital
markets operations experience to this critical role. An accomplished
leader with a solid track record of success driving change, Jean will
complete CDS's integration with TMX Group and work with a broad and
highly talented leadership team to deliver enhanced capabilities and
value for our customers."
David Wood, Chair of the CDS Board of Directors said:
"We are very pleased to have attracted a leader of Jean's experience and
demonstrated skills to guide CDS. As CDS focuses on the introduction
of new value-added products and services to the market, he will help us
to achieve our full potential as a business for the benefit of staff,
customers and stakeholders."
Added Mr. Desgagne:
"CDS has been a reliable and effective provider of critical
infrastructure to Canada's capital markets. I look forward to working
with my new colleagues to further strengthen the organization, expand
the offering and drive new innovation for the benefit of our
participants and stakeholders."
Mr. Desgagne joins CDS from TD Bank Group, where he most recently served
as Senior Vice President, Trading Risk Services, with responsibility
for the independent oversight of valuation, market risk, liquidity and
collateral for TD's global trading business. Prior to TD, he held
increasingly senior positions at some of Canada's leading financial
institutions in areas such as treasury operations, technology, trading
support and risk management. Mr. Desgagne is a Chartered Accountant
and a graduate of the University of Ottawa. He currently serves on the
Board of the Jean Tweed Centre and has been active in a number of other
community organizations. He is a member of the President's Advisory
Council for the University of Ottawa and was awarded the Trudeau Medal
by the Telfer School of Management and the Queen's Jubilee Medal in
2002 in recognition of his community service.
About TMX Group (TSX:X)
TMX Group's key subsidiaries operate cash and derivative markets and
clearinghouses for multiple asset classes including equities, fixed
income and energy. Toronto Stock Exchange, TSX Venture Exchange, TMX
Select, Alpha Group, The Canadian Depository for Securities, Montreal
Exchange, Canadian Derivatives Clearing Corporation, Natural Gas
Exchange, Boston Options Exchange, Shorcan, Shorcan Energy Brokers,
Equicom and other TMX Group companies provide listing markets, trading
markets, clearing facilities, depository services, data products and
other services to the global financial community. TMX Group is
headquartered in Toronto and operates offices across Canada (Montreal,
Calgary and Vancouver), in key U.S. markets (New York, Houston, Boston
and Chicago) as well as in London, Beijing and Sydney. For more
information about TMX Group, visit our website at www.tmx.com. Follow TMX Group on Twitter at http://twitter.com/tmxgroup.
SOURCE: TMX Group Inc.
